have two columns in the budget: one for your local
currency and one for the costs converted into U.S. dollars
($), U.K. pounds (£), Euros (€) or whatever currency the
funder uses.
DEVELOPING A BUDGET
When you create your budget, be realistic. Be prepared
to document your organization’s typical expenses:
staff salaries and fringe benefits, rent, utilities (such as
electricity and heating), office and computer supplies,
computers, printer and copy machine costs, supplies such
as hand-outs or materials, travel costs, and any expenses
specific to your program. Have a 12-month budget for
your organization and/or project ready. It’s important
to have these budgets for your organization to run
efficiently, not just to create them for specific proposals.
Expenses in proposal budgets should always relate directly
back to the actual expenses your organization will incur.
Two different kinds of budgets are usually required
for proposals: the organizational budget and/or the
project budget.
ORGANIZATIONAL BUDGET
The organizational budget is the general operating budget
for the organization as a whole, including the expected
revenue and expenses for one year.
Many foundations require you to submit your
organizational budget for the current year and sometimes
the prior year along with any project-specific budget
created for your proposal. They want to see how your
project relates to the organization’s budget as a whole.
WHAT CURRENCY SHOULD YOU USE IN
YOUR BUDGET?
Many international funders want Ѽ